We see a touch of the 76.23 handle for USOIL and it will be a tough line to cross. Oil hasn't seen these levels in a long time and I don't think the pump is actually catching up to the true price yet. There are still major supply issues and restarts of US refineries after the latest hurricane. We are still looking at some upside though a pullback to 70 is also in the cards.
Comment:
Broken resistance, waiting for today's close to make an decision on this trade. Still holding long